Answer:
The correct net income is $218,530
Explanation:
The computation of the correct net income is shown below:
= Current year net income + unearned revenue earned - accrued wages
= $196,400 + $34,900 - $12,770
= $218,530
The unearned revenue earned should be added in the net income whereas the accrued wages is an expense which should be deducted in the net income
Answer:
Explanation:
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income
And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:
Explanation:
Insurance underwriters "evaluate the risk and exposures" of potential clients. Clients are the insurance agency where many insurers invest money and claim if the insurer / his family (which ever is applicable) is hospitalized / treated for disease.
If I am a underwriter,
- I will check the insurance policy which the patient has taken,
- Check the eligibility, cross check the documents of operation which the patient or insurer has sent
- Then decide whether the particular reimbursement is approved or unapproved.